Get Bridging Loans In Australia

Bridging loans area vailable specifically to help you through that small window of time between purchasing your new home and selling your existing one. In a perfect world, our settlement dates would all match up but sometimes this just isn’t possible, in which case you may require this type of loan to tide you over.

In bridging finance, the amount of your commitment calculated by adding the value of your new home to the amount of your outstanding/existing mortgage and then subtracting the estimated sale price of your home. The amount left over is what’s referred to as your ‘ongoing balance’ and represents the principal of your bridging loan.

As standard, bridging loans are interest-only. During the bridging period, whatever that may be, interest will be compounded monthly on your ongoing balance at the standard variable rate and interest bill will then be added to the ongoing balance when you sell your house, and this amount becomes the mortgage on the new property.

At Mango Credit, we are the trusted name in short term lending solutions for caveat loans, bridging finance, unregistered second mortgages, second mortgages and first mortgages loans in Australia.

Amounts range between $10,000 to $250,000+ and we offer very competitive rates with terms from 2 to 12 months. We service metropolitan and country areas throughout Australia so no matter where you are located, we are always happy to help.

We understand the process of selling your home and buying a new one can be stressful. Our aim is to help our clients make this time as simple and stress free as possible.

If you would like to chat to our friendly team about applying for a caveat loan feel free to contact us or alternatively, you can click here to apply for your short term loan online today.